Convergence Investment Partners LLC lifted its position in shares of Jones Lang LaSalle Inc (NYSE:JLL) by 26.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,262 shares of the financial services provider’s stock after acquiring an additional 1,323 shares during the quarter. Convergence Investment Partners LLC’s holdings in Jones Lang LaSalle were worth $648,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its position in shares of Jones Lang LaSalle by 77.5% during the 1st quarter. First Horizon Advisors Inc. now owns 268 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Fred Alger Management LLC acquired a new stake in Jones Lang LaSalle in the first quarter valued at $29,000. CWM LLC lifted its stake in Jones Lang LaSalle by 47.7% in the second quarter. CWM LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 113 shares during the last quarter. Twin Tree Management LP lifted its stake in Jones Lang LaSalle by 101.5% in the first quarter. Twin Tree Management LP now owns 510 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 34,717 shares during the last quarter. Finally, Stephenson National Bank & Trust lifted its stake in Jones Lang LaSalle by 46.6% in the second quarter. Stephenson National Bank & Trust now owns 705 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 224 shares during the last quarter. 94.67% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:JLL traded down $0.16 during mid-day trading on Friday, reaching $98.91. 318,603 shares of the company’s stock were exchanged, compared to its average volume of 280,698. Jones Lang LaSalle Inc has a one year low of $78.29 and a one year high of $178.55. The firm has a market capitalization of $5.11 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.66 and a beta of 1.68. The business’s fifty day simple moving average is $103.56 and its two-hundred day simple moving average is $121.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.36 and a current ratio of 2.36.
Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.42). The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.32 billion. Jones Lang LaSalle had a return on equity of 14.30% and a net margin of 2.84%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, equities research analysts forecast that Jones Lang LaSalle Inc will post 6.64 EPS for the current year.
Several equities analysts have recently weighed in on JLL shares. JPMorgan Chase & Co. dropped their price objective on shares of Jones Lang LaSalle from $183.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Raymond James dropped their price objective on shares of Jones Lang LaSalle from $172.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS Group lowered their price target on shares of Jones Lang LaSalle from $188.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Jones Lang LaSalle has a consensus rating of “Hold” and a consensus price target of $150.20.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.
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